First Solar (NASDAQ:FSLR) Trading Up 0.9% – Time to Buy?

First Solar, Inc. (NASDAQ:FSLR) rose 0.9% during mid-day trading on Tuesday . The stock traded as high as $131.18 and last traded at $129.92. Approximately 574,914 shares changed hands during trading, a decline of 78% from the average daily volume of 2,579,041 shares. The stock had previously closed at $128.82.

Analyst Upgrades and Downgrades

Several brokerages have commented on FSLR. Guggenheim lowered their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Roth Mkm restated a “buy” rating and set a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. Truist Financial reiterated a “buy” rating and issued a $285.00 target price (down previously from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Barclays reduced their price target on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. Finally, Redburn Atlantic began coverage on shares of First Solar in a research note on Monday, March 3rd. They issued a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Price Performance

The business’s fifty day simple moving average is $155.16 and its 200 day simple moving average is $187.25. The firm has a market capitalization of $14.09 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts forecast that First Solar, Inc. will post 13.05 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. The trade was a 67.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in shares of First Solar during the 4th quarter worth approximately $317,399,000. Wellington Management Group LLP increased its position in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after acquiring an additional 904,498 shares during the last quarter. Demars Financial Group LLC lifted its holdings in First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after acquiring an additional 718,631 shares during the period. Mirova US LLC boosted its position in First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock worth $113,906,000 after purchasing an additional 585,394 shares during the last quarter. Finally, Amundi increased its position in shares of First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after purchasing an additional 426,797 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.